āagman

Not investment advice. Data and computed figures, for information only.

TVS Motor Company Ltd

NSE: TVSMOTORF&O
₹4,095.10
+₹75.10 (+1.87%)
NSE · 16 Oct 2026, close
NSE
As of 31 Mar 2026
Market Cap
₹1,83,707 Cr
CMP
₹4,095.10
52-wk High / Low
₹4,485 / 3,228
P/E
53.1
P/B
19.2
Book Value
₹201.0
Div Yield
0.31%
ROCE
17.0%
ROE
33.6%
Face Value
₹1
D/E
3.43

Price+16.9% over 1Y

āagman read

Computed by āagman
Derived from 12 years and 15 quarters of filings. Not reported by the company.
As of 16 Oct 2026
How we compute these
Piotroski F-Score
5
/ 9
5 of 9 F-score tests passed
Graham Number
₹536
√(22.5 × EPS × book value per share)
ROIC
11.0%
vs 11.5% sector median
Cash flow to profit
0.59
CFO / PAT
Above 1.0 = operating cash flow exceeded reported profit
Margin change
−39
bps OPM YoY
Operating margin vs the same quarter last year
Sustainable growth
28.1%
ROE × earnings retention ratio
ROE stability
5.5
pp σ
Standard deviation of ROE across periods. Lower = more stable
Holder deltas
QoQ
pp
Prom +0.00FII −2.11DII +2.28
Latest quarter vs the previous one
Cash-accrual divergence
2.5%
of assets
Low = accruals track cash flow
Strengths
+Price trades above its 200-day moving average (1.1x)
+Price is within 10% of its 52-week high (-8.7%)
+FII holding rose by 3.4pp over the last year
Watch-outs
−Latest ROCE of 17% trails the sector median of 18.5%
−Borrowings are up 2905.6% since FY2016 (1091 to 32791)

Peer comparison

Peers
NameP/EMar Cap ₹ CrROCE %ROE %

Quarterly results

Consolidated basis (as filed) · ₹ Cr · 13 quarters
As of 30 Jun 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026Jun 2026
Sales9,0569,93310,1149,94210,31411,30211,03511,54212,21014,05114,75615,05316,296
Expenses7,8528,5888,6398,4878,8849,6789,4029,63810,40711,94112,48812,88113,952
Operating Profit1,2041,3451,4751,4551,4311,6241,6331,9041,8032,1102,2672,1722,343
OPM %13.3%13.5%14.6%14.6%13.9%14.4%14.8%16.5%14.8%15.0%15.4%14.4%14.4%
Other Income875112−34483270−5740−14−607158
Interest437483494511500509536551551552561566602
Depreciation227237242263241259258292315320323315354
Profit before tax6276767506477388889081,0049771,2231,3231,2981,545
Net Profit4414165104124855886096986438338918201,058
EPS (₹)9.148.1310.088.159.7011.8011.9113.6412.8416.7417.7116.2421.46

Profit & Loss

As of 30 Jun 2026
Consolidated · ₹ Cr · 12 years + TTM
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026TTM
Sales10,25611,37712,46316,34020,16018,84919,42124,35531,97438,77944,08956,07060,155
Expenses9,65010,55811,59114,76917,99716,58517,18921,60127,94733,34437,50147,71751,262
Operating Profit6058198711,5712,1632,2642,2322,7554,0275,4356,5888,3528,893
OPM %5.9%7.2%7.0%9.6%10.7%12.0%11.5%11.3%12.6%14.0%14.9%14.9%14.8%
Other Income809316371251236−513613186−2890
Interest6270603386638558819401,3681,9172,0932,2302,281
Depreciation1792623173744425565657438599561,0461,2731,312
Profit before tax4445806589311,0838658221,0671,9362,6933,5354,8225,390
Net Profit3284295096657256476087311,3091,7792,3803,1863,601
EPS (₹)6.919.0310.7613.7314.8313.1512.5115.9327.9735.5047.0663.5372.15

Balance Sheet

As of 30 Jun 2026
Consolidated · ₹ Cr
Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026Jun 2026
Equity Capital484848484848484848484848—
Reserves1,2771,7712,1692,6303,1233,2353,7794,3525,4576,7368,4569,517—
Borrowings1,1191,0911,3116,9289,29811,59112,17915,82722,37626,00628,60932,791—
Other Liabilities2,1262,2362,6013,5864,2284,3995,8596,6927,1449,23510,53913,790—
Total Liabilities4,5705,1466,12813,19016,69619,27221,86526,91935,02542,02447,65156,146—
Fixed Assets1,6372,0382,3623,0943,3673,8114,2215,9755,7485,8917,6448,634—
CWIP9347643137451,0061,0415527431,0331,4652,072—
Investments5399431,1554214403714686059671,1231,2471,147—
Other Assets2,3012,1182,5479,36212,14514,08516,13519,78827,56633,97737,29444,293—
Total Assets4,5705,1466,12813,19016,69619,27221,86526,91935,02542,02447,65156,146—

Cash Flows

As of 31 Mar 2026
Consolidated · ₹ Cr
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
Cash from Operating Activity47083936689354−9183731,151−1,575−4,405−1,2533,5031,867
Cash from Investing Activity−235−415−605−709−1,095−1,104−1,090−882−1,471−1,308−1,481−2,899−2,964
Cash from Financing Activity−216261−319−598972,2101,6192642,9186,1183,2391,155909
Net Cash Flow19−7112−79156188902532−1284065051,759−189

Ratios

As of 31 Mar 2026
13 periods
Mar 2014Mar 2015Mar 2016Mar 2017Mar 2018Mar 2019Mar 2020Mar 2021Mar 2022Mar 2023Mar 2024Mar 2025Mar 2026
ROCE %19.021.022.022.019.016.013.011.011.013.015.015.017.0
ROE %————————————33.6
EPS (₹)3.926.919.0310.7613.7314.8313.1512.5115.9327.9735.5047.0663.53
Book Value (₹)————————————201.0
Face Value (₹)————————————1
P/E————————————53.1
Div Yield %————————————0.31
NPM %2.23.23.74.04.13.63.43.13.04.14.65.45.7
OPM %6.06.07.07.010.011.012.011.011.013.014.015.015.0
D/E0.630.840.600.592.592.933.533.183.604.063.833.363.43
P/B————————————19.2

Growth

As of 11 Oct 2026
Compounded sales growth
10 years+17.0%
5 years+24.0%
3 years+21.0%
TTM+31.0%
Compounded profit growth
10 years+23.0%
5 years+38.0%
3 years+33.0%
TTM+46.0%
Stock price CAGR
10 years+26.0%
5 years+46.0%
3 years+34.0%
Last year+11.0%
Return on equity
10 years26.0%
5 years28.0%
3 years30.0%
Last year34.0%

Shareholding pattern

As of 31 Mar 2026
Jun 2023Sep 2023Dec 2023Mar 2024Jun 2024Sep 2024Dec 2024Mar 2025Jun 2025Sep 2025Dec 2025Mar 2026
Promoters57.40%57.40%57.40%57.40%57.40%57.40%50.81%50.27%50.27%50.27%50.27%50.27%
FIIs18.50%18.50%20.18%15.92%11.37%12.34%11.97%17.02%20.83%21.48%22.56%20.45%
DIIs12.49%12.49%10.59%15.83%21.20%20.84%28.51%24.39%20.26%19.73%18.84%21.12%
Government————————————
Public11.61%11.61%11.83%10.85%10.04%9.42%8.72%8.33%8.64%8.45%8.30%8.12%
No. of shareholders1,06,2811,06,2811,22,6371,38,3971,31,9031,40,5692,01,4151,94,3472,60,6183,01,3083,24,8913,31,196
Change since Jun 2023 (pp)
Promoters −7.13FIIs +1.95DIIs +8.63Public −3.49

Documents

As of 11 Oct 2026
Announcements
Compliances-Certificate under Reg. 74 (5) of SEBI (DP) Regulations, 2018Announcement under Regulation 30 (LODR)-Monthly Business UpdatesAnnouncement under Regulation 30 (LODR)-Newspaper PublicationAnnouncement under Regulation 30 (LODR)-Press Release / Media ReleaseClosure of Trading Window
Annual reports
Annual Report 2026Annual Report 2025Annual Report 2024Annual Report 2023Annual Report 2022
Credit ratings
Rating updateRating updateRating updateRating updateRating update
Concalls
Jul 2026TranscriptJul 2026PPTJul 2026RecordingMay 2026TranscriptMay 2026PPTMay 2026RecordingFeb 2026TranscriptFeb 2026PPTFeb 2026RecordingOct 2025TranscriptOct 2025PPTOct 2025RecordingAug 2025TranscriptAug 2025PPT

Corporate actions

As of 30 Mar 2026
30 Mar 2026DIVIDENDInterim Dividend - Rs 12 Per Share—
25 Aug 2025BONUSScheme Of Arrangement - Bonus Ncrps 4:1—
26 Mar 2025DIVIDENDInterim Dividend - Rs 10 Per Share—
19 Mar 2024DIVIDENDInterim Dividend - Rs 8 Per Share—
2 Feb 2023DIVIDENDInterim Dividend - Rs 5 Per Share—
25 Mar 2022DIVIDENDInterim Dividend - Rs 3.75 Per Share—
30 Mar 2021DIVIDEND Interim Dividend - Rs 1.40 Per Share—
4 Feb 2021DIVIDEND Interim Dividend - Rs 2.10 Per Share—
17 Mar 2020DIVIDEND Interim Dividend - Rs 1.40 Per Share—
11 Feb 2020DIVIDEND Interim Dividend - Rs 2.10 Per Share—
18 Mar 2019DIVIDEND Interim Dividend - Rs 1.40 Per Share—
30 Oct 2018DIVIDEND Interim Dividend - Rs 2.10 Per Share—
6 Mar 2018DIVIDEND Interim Dividend - Rs 1.30 Per Share (Purpose Revised)—
8 Nov 2017DIVIDEND Interim Dividend - Rs 2/- Per Share (Purpose Revised)—
14 Mar 2017DIVIDEND Interim Dividend Rs 1.25 Per Share (Purpose Revised)—
3 Nov 2016DIVIDEND Interim Dividend Rs 1.25 Per Share (Purpose Revised)—
17 Mar 2016DIVIDEND Interim Dividend - Rs 1.50 Per Share (Purpose Revised)—
4 Feb 2016DIVIDEND Interim Dividend - Re 1/- Per Share (Purpose Revised)—
5 May 2015DIVIDENDSecond Interim Dividend - Rs 1.15 Per Share (Purpose Revised)—
6 Feb 2015DIVIDENDInterim Dividend - Re 0.75/- Per Share (Purpose Revised)—
2 May 2014DIVIDENDSecond Interim Dividend - Re 0.75/- Per Share (Purpose Revised)—
30 Oct 2013DIVIDENDInterim Dividend Re.0.65 Per Share (Purpose Revised)—
3 May 2013DIVIDENDSecond Interim Dividend Re.0.60 Per Equity Share (Purpose Revised)—
6 Feb 2013DIVIDENDInterim Dividend Re 0.60 Per Share (Purpose Revised)—
4 Jun 2012DIVIDEND2nd Interim Dividend - Re.0.70 Per Share—
20 Mar 2012DIVIDENDInterim Dividend Re.0.60 Per Share (Purpose Revised)—
2 Aug 2011DIVIDENDAnnual Book Closure And 2nd Interim Dividend Re.0.60 Per Share (Purpose Revised)—
25 Jan 2011DIVIDENDInterim Dividend-Re.0.50 Per Share (Purpose Revised)—
8 Sep 2010BONUSBonus 1:1—
26 Jul 2010DIVIDEND2nd Interim Dividend-Re.0.50 Per Share (Purpose Revised)—
Fundamentals from a third-party compiler of exchange filings; prices from the exchanges. Not investment advice.© 2026 āagman